On July 23, Hangzhou Kaixin Biotechnology Co., Ltd. (hereinafter referred to as "Qihan Bio") announced today that it has completed a $7.8 million Series A financing. This round of investment was led by the internationally renowned investment institution Sequoia Capital China Fund, and Arch Venture, Northern Light Venture Capital, Shulan Medical Capital, Biomatics Capital Partners, and Alta Partner participated in the financing.

Qihan Bio is an innovative biotechnology company focused on the use of the latest genetic editing technology for xenotransplantation to address the global shortage of donor organs. The company was founded in 2017 by Dr. Yang Wei, founder and chief scientist of eGenesis, USA, and academician of the American Academy of Sciences and Engineering, and Professor George Church of Harvard University. Qihan Bio and US eGenesis are sister companies, hoping to establish a new type of Sino-US simultaneous R&D and interoperability innovation model. Committed to using the world's most advanced gene editing technology to obtain safe and effective xenogenic cells, tissues and organs for human transplantation, and to solve the serious shortage of organ transplant recipients in China and the world. At present, Kaixin Bio has established a new world-class R&D center and has established a leading team with rich experience in gene editing and xenotransplantation.